Digital Transformation Becomes Center of Corporate Strategy

Digital transformation will be the center of corporate strategy for 75 percent of the world’s 2,000 largest companies.

The prediction by two senior IDC research analysts served as the closing thought at what’s billed as the world’s largest event for enterprise IoT.

IDC’s Research Vice President Kimberly Knickle and Research Manager Heather Ashton delivered the closing presentation at LiveWorx in Boston, an event that brings together many of the most important executives, academics and engineers known for their ideas around IoT technology.

Some other predictions:

In 2020, the IoT-enabled factory will run on fully integrated IT and OT systems.

Within the same timeframe, more than 50% of manufacturers of smart connected products will use a product innovation platform.

By 2025, at least 50% of all workers will use automated assistance technologies.

The predictions strengthen the wisdom of advice proffered throughout the 4-day conference about the need for companies of all types – consumer and industrial – to begin bringing IoT into their operations immediately if they haven’t already.

“It's important to get started and to experiment, even if there will be some potential panic moment,” said Knickle, who cautioned against waiting for the emergence of a common technical standard for IoT.

The transformation of enterprises through adoption of IoT-based solutions will be “a journey” for every company that commits to the effort. For more on this, watch this video featuring PTC executives including Rob Gremley, Group President, Technology Platforms, and Craig Hayman, Group President, Solutions Group.

LiveWorx 17 will be held on May 22-25 in Boston. Registration is now available online at http://www.showreg.net/LWORX1706. To receive a discounted All-Access pass for only $695, register using the promo code ATTEND17 by August 15.

Michelle Hopkins is Managing Editor of Product Lifecycle Report. She has spent her career in marketing and communications in the technology industry focused primarily on enterprise software. Michelle enjoys researching and writing about how new technology trends and innovations can transform business processes and impact customer relationships, competitive advantage and overall revenue and profitability. Frequent topics include the Internet of Things, manufacturing, service lifecycle management and STEM.